Foreign & Colonial IT cuts private equity fund valuation

SarahTurner

LONDON (MarketWatch) -- Foreign & Colonial Investment Trust
FRCL, -0.68%
said Friday that it's cutting the valuation of its portfolio of private equity funds of funds by 19.6% to reflect the fall in markets since June 30. This has the effect of reducing the company's published Nov 26 net asset value per share (cum income) by 3.76% to 226.76 pence. Foreign & Colonial said that it continues to invest in private equity and continues to believe its private equity portfolio will make a positive contribution to long-term returns.

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